Uzbekistan Amends Corporate Tax and Withholding Tax on Dividends and Interest Tax and Social Security

The Uzbek President reportedly signed an order on 29 June 2018 to:

• Reduce the standard corporate tax rate from 14% to 12% and reduce the rate for commercial banks from 22% to 20%;
• Increase the corporate tax rate for mobile communication operators from 14% to 20%;
• Reduce withholding tax on dividends and interest from 10% to 5%;
• Set an annual revenue threshold of UZS 1 billion for qualification as a small business, with a reduction in the small business tax rate on turnover from 5% to 4% and t…